Anyone has purchased flat in Hiranandani - Egattur, OMR project?

Please share your experience.

What was their launch price and current price?

Anything special in their sea facing view appartments? What are the pros & cons if we prefer this - in Vastu or Scintific angle?

Is it worth to go for purchase now both in investment angle as well as for immediate occupation?
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  • check out commonfloor for resales. you can get a ready apt for 70L when the builder is selling for 90L.
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  • Originally Posted by rameshyahoo
    check out commonfloor for resales. you can get a ready apt for 70L when the builder is selling for 90L.


    Who to contact and where to get this details?

    Why there has to be this difference in rate?
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  • Originally Posted by rameshyahoo
    check out commonfloor for resales. you can get a ready apt for 70L when the builder is selling for 90L.


    Who to contact and where to get this details?

    Why there has to be this difference in rate?
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  • 70 L may be bare cost. Amenities may be extra
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  • Originally Posted by din132
    Who to contact and where to get this details?

    Why there has to be this difference in rate?


    Here is a suggestion I gave another investor.

    I would avoid the resale market unless they are discounted by 15% or more of the current price.

    Here is the big reason why resale should be cheaper than original booking.

    The original buyer pays a very low stamp duty + reg, (9% of UDS value) which for 3-bhk is in the range of 50K. Low UDS helps the first buyer.
    If you are buying a RTM (ready to move) apt you will have to pay 9% of the total purchase price, not just the UDS value. So it could be another 10L for a 1.1C apt.

    My suggestion is you should look at a fresh booking for phase 2 like Amalfi or something similar.
    Pay the 20-30% downpayment. Rent an Apt in phase I which has been handed over recently. Rents are extremely cheap and the original owner would have paid for first few months of maintainance. Hira will start charging full maintainance later.
    I see ads for 25-30K for rent in phase I. 25K with maintainance for a 3-bhk is an awesome value.
    The interest money that you save by going for under construction property will easily cover your rent and you might have enough left over to buy a luxury car or use it for furnishing later.
    If you are buying resale you have to pay full amount at once, there is no benefit.

    If you are buying new, for 3-bhk lets say the price is 1.2C, you pay 20% down that is 24L. 10% during foundation which will take 6 months, 12L. So in 1 yr your outgo is only 36L.
    The other 84L would have earned an interest of 8.4L, which is more than enought to cover 3L rent (25K X 12), you will have 5L left over in first year itself. By the time the construction completes in 3 years you would have saved 20-25L easily in interest costs.


    If the apt is not registered and handed over, Hira charges 500 transfer charge that makes up for the stamp duty difference.
    If it was me, I would advise people to go for a fresh booking in Hira.

    Resale units are worth only when there is a big discount, like more than 20%.

    Comments are welcome, if you think my numbers are off.
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  • i agree on the rental part. another point is if you have the cash make an offer to the second seller. talk to brokers and u will get many investors sitting on their flats eager to exit. if u want slabwise payment then go with the builder. assume 2 years delay. so loss of interest of 20L if u pay 1CR for slabwise 95% payment. there is no escape from the clutches of the builder
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  • When the Tiana project was launched for sale at early stages, the flats were sold without any escalation clause. In escalation clause, HOH would charge extra for construction material price rise. This is variable and not controllable by buyer. Those who are buying now, escalation is mandatory. But buyers who bought at early stages are being forced to accept escalation although no such term was agreed. Just unprofessional business, no ethnics.
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  • Pls don't buy flats here.They are cheating people.Check this link https://www.change.org/p/prime-minis...edium=whatsapp Showing the school they have cheated all of us. Too many internal issues.
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  • A year back, I had given a strong positive feedback to the hiranandani community in Egattur, Chennai. I think it is time to set things right and take back my words. Hiranandani is clearly a no go right now given what is happening with the school right now. I happen to own a place in this complex - community and everything else is good but the way they have messed up regarding the school and continue to shirk responsibility wrt school going kids appearing for 10th and 12th and the quality they are delivering now compared to the first phase apartments it is clearly a wait and watch for now. Anyone worth their salt should not be participating in a business that is run by such unscrupulous people with no sense of responsibility and for the quality that they will receive. Compared to what was delivered in the first phase the current phase projects should be approached with caution - 45 floors in place of 28 floors i.e. 40% increase in FSI for the same common amenities/areas, common area (lobby) flooring for new apartments blocks that look worse than a third grade builder's flats, floorings and fittings inside apartments that have fallen a notch from their initial phase etc.
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